Perigon Wealth Management LLC trimmed its holdings in Emerson Electric Company (NYSE:EMR) by 19.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,857 shares of the industrial products company’s stock after selling 3,510 shares during the quarter. Perigon Wealth Management LLC’s holdings in Emerson Electric were worth $886,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in Emerson Electric in the 2nd quarter valued at $109,000. Intellectus Partners LLC boosted its position in shares of Emerson Electric by 0.3% during the 2nd quarter. Intellectus Partners LLC now owns 2,094 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 7 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Emerson Electric during the 1st quarter worth $127,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Emerson Electric during the 2nd quarter worth $129,000. Finally, AT Bancorp purchased a new stake in shares of Emerson Electric during the 2nd quarter worth $139,000. 69.00% of the stock is currently owned by institutional investors and hedge funds.
EMR has been the topic of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 price objective (up from $68.00) on shares of Emerson Electric in a research report on Thursday, November 9th. Cowen upgraded shares of Emerson Electric to a “buy” rating and set a $71.00 price objective on the stock in a research report on Monday, October 23rd. Bank of America upgraded shares of Emerson Electric from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $64.44 to $79.00 in a research report on Tuesday, October 17th. Morgan Stanley reiterated an “equal weight” rating and issued a $67.00 price objective (up from $64.00) on shares of Emerson Electric in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of Emerson Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $65.14.
Emerson Electric (NYSE:EMR) last posted its earnings results on Tuesday, November 7th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.83. The firm had revenue of $4.44 billion during the quarter, compared to the consensus estimate of $4.43 billion. Emerson Electric had a net margin of 9.94% and a return on equity of 20.47%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. analysts expect that Emerson Electric Company will post 2.91 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Emerson Electric’s previous quarterly dividend of $0.48. Emerson Electric’s dividend payout ratio is currently 82.55%.
In other Emerson Electric news, VP Bell Katherine Button sold 7,909 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $64.78, for a total value of $512,345.02. Following the completion of the transaction, the vice president now owns 44,628 shares in the company, valued at approximately $2,891,001.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.79% of the stock is owned by corporate insiders.
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About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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